CHARTER AGREEMENT FOR AHTS «NORMAND IVAN"

Solstad Offshore ASA (SOFF) has received a Letter of
award from MURPHY Sabah/Sarawak Oil Co Ltd (Murphy)
for hire of the anchorhandling vessel "Normand Ivan".
The duration of the agreement is 2 years firm plus 1
year option. The new contract commenced recently.

Murphy will utilize "Normand Ivan" to support their
deepwater operations in Malaysia, where the vessel
has been operating for Murphy since 2004.

Total value for the firm part of the contract is
approx NOK 260 mill.

Skudeneshavn, 5th June 2012

Contact person: Lars Peder Solstad (Tlf. +47 52 85 65
00)

This information is subject of the disclosure
requirements acc. to §5-12 vphl (Norwegian Securities
Trading Act)